https://www.taxtmi.com/caselaws?id=304216 The Tribunal allowed the appeal of the assessee, setting aside the order passed under Section 263 of the Income Tax Act, as the initiation of proceedings was based on an audit objection and not on the actual examination of records. The Tribunal found that considering interest-free deposits for determining Annual Letting Value (ALV) was not justified, as no disallowance on account of interest was made in the assessee's case for earlier or subsequent years. en-us Mon, 03 Dec 2018 00:00:00 +0530 Tue, 13 Sep 2022 20:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304216 The Tribunal allowed the appeal of the assessee, setting aside the order passed under Section 263 of the Income Tax Act, as the initiation of proceedings was based on an audit objection and not on the actual examination of records. The Tribunal found that considering interest-free deposits for determining Annual Letting Value (ALV) was not justified, as no disallowance on account of interest was made in the assessee's case for earlier or subsequent years. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304216